On January 8, according to Gelonghui, Hong Kong's Coal Industrial Concept(coal Industry) stocks performed weakly as a whole. Among them, China Shenhua Energy fell over 3%, YANKUANG ENERGY and CHINA QINFA fell 3%, Mongolian coking coal, KINETIC DEV, and Shougang Energy fell over 2%, while YANCOAL AUS fell by 1%. In terms of news, the China Coal Transportation and Sales Association released the coking coal market operation monitoring semi-monthly report, stating that after entering 2025, the running of the coal and steel coking Industry Chain has shown no improvement. The confidence of various segments in the market regarding the future remains generally lacking, with a cautious attitude towards raw material purchases. The willingness for resource winter storage is not as strong as in previous years, which further intensifies the market competition between upstream and downstream, placing heavy pressure on weaker varieties. From the perspective of coking coal supply and demand, under the dual pressure of strengthened safety supervision and market downturn, it has become a reality for state-owned large mines to actively control production during the holiday periods. The subsequent coking coal production is expected to enter a phase of supply contraction, and the market pressure of oversupply is likely not to increase further.